I received a 1099-S from the sale of an inherited house, contract price $450,000. However, box 2 of the 1099-S shows $450,600, which includes a $600 property tax credit to seller (me). There is no cap gain or loss since it's inherited & sold quickly (about 6 months after date of death, so using basis equal to sale price). Should I just report on my tax return the sale price shown in the closing docs? Or do I report the $450,600 amount as the proceeds, even though that's not the sale price? I've asked for a corrected 1099-S from closing attorney who issued it, to show sale price in box 2, but haven't heard back yet. Thanks for any help.
